Immunocore (NASDAQ:IMCR) Shares Up 6.1% – Here’s Why

Shares of Immunocore Holdings plc (NASDAQ:IMCR) traded up 6.1% during trading on Thursday . The stock traded as high as $32.62 and last traded at $32.90. 87,754 shares were traded during trading, a decline of 69% from the average session volume of 281,767 shares. The stock had previously closed at $31.02.

Analysts Set New Price Targets

A number of analysts have issued reports on IMCR shares. Mizuho downgraded shares of Immunocore from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $72.00 to $38.00 in a report on Monday, November 11th. UBS Group started coverage on shares of Immunocore in a report on Thursday, October 24th. They issued a “sell” rating and a $24.00 price objective for the company. Morgan Stanley reissued an “equal weight” rating and issued a $35.00 price objective (down previously from $74.00) on shares of Immunocore in a report on Friday, December 13th. Guggenheim downgraded shares of Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Immunocore has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Stock Performance

The firm has a market cap of $1.65 billion, a P/E ratio of -34.74 and a beta of 0.76. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78. The company’s 50 day moving average is $30.53 and its 200 day moving average is $33.40.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.50. The business had revenue of $80.25 million during the quarter, compared to the consensus estimate of $78.94 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The firm’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.59) EPS. As a group, equities analysts predict that Immunocore Holdings plc will post -0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Several large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its position in shares of Immunocore by 0.9% during the second quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company’s stock worth $2,392,000 after buying an additional 606 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Immunocore by 12.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company’s stock worth $248,000 after buying an additional 960 shares during the period. Pier Capital LLC increased its position in shares of Immunocore by 1.4% during the third quarter. Pier Capital LLC now owns 82,480 shares of the company’s stock worth $2,568,000 after buying an additional 1,174 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Immunocore by 40.4% during the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock worth $158,000 after buying an additional 1,461 shares during the period. Finally, Assetmark Inc. increased its position in shares of Immunocore by 6.5% during the third quarter. Assetmark Inc. now owns 30,555 shares of the company’s stock worth $951,000 after buying an additional 1,878 shares during the period. Institutional investors own 84.50% of the company’s stock.

Immunocore Company Profile

Immunocore Holdings plc, a commercial-stage biotechnology company, engages in the development of immunotherapies for the treatment of cancer, infectious, and autoimmune diseases. The company offers KIMMTRAK for the treatment of patients with unresectable or metastatic uveal melanoma. It also develops other programs for oncology, including tebentafusp that is in Phase 2/3 clinical trial to treat advanced cutaneous melanoma.